No CR to public sorry. PEN does not current need the money and their cash burn is relatively low.
IMO this is something Gus has been working on since before the AGM. He seemed very deliberate in his comments at the AGM when questioned over the need for the additional shares that, one it was only for the short term and only if something would add value. He was not interested in chasing opportunities but if something came knocking (as he explained he had had a few offers) he wanted to have the ability to access fund for the benefit of the company.
I think this is bigger than a simple cap raising as IMO the funds are earmarked for something.
HS, there has been come comments regarding possible available ground next door, can you elaborate on this ?
pre open?, page-68
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Last
11.0¢ |
Change
0.010(10.0%) |
Mkt cap ! $350.5M | |||
| Open | High | Low | Value | Volume |
| 10.0¢ | 11.0¢ | 10.0¢ | $1.538M | 14.43M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 268799 | 10.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 11.0¢ | 5585591 | 46 |
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| PEN (ASX) Chart |